Mr Vinod Garg
January 27, 2021
In this edition, Stainless Post presents an exclusive interview with our ‘A-rated supplier’- Director, Garg Seamless Pvt. Ltd., Mr Vinod Garg. A leading stainless steel scrap supplier in north India, Mr Garg reminisces his golden days of service in the steel sector and his journey of an undying bond with Jindal Stainless.
Tell us about your early life.
I was born in Sangrur city in Punjab. Later, my family moved to Haryana where I completed my initial education. I was an active sportsperson as a teenager and was a district-level cricketer. As a youngster, I was driven to work hard and achieve financial stability for myself and my family. So after completing my education in 1994-95, I decided to work in the promising steel sector. I got a job in Delhi’s Wazirpur industrial area and began my career in the steel industry. After achieving some financial stability and having gained industry insights, I joined my family retail business in stainless steel scrap. Eventually, we went on to establish Garg Seamless Pvt. Ltd. in 2008, which is now a leading stainless steel scrap supplier of 200 and 300 series in north India. As of today, we supply 2,000-2,500 tonnes of scrap monthly and have an annual turnover of ~INR 100 crore.
Under what circumstances did you start this business?
In 2005, my elder brother set up Garg Traders on a proprietorship basis. Initially, he dealt in retail marketing of stainless steel scrap. This was also the time when I had gained sufficient experience and knowledge of the steel sector, by virtue of over 10 years’ service in this sector. Stainless steel was an obvious choice for us to deal in because of the promising outlook due to growing market and ample opportunities in the future. So in 2007, after achieving some financial stability, I decided to join my brother in the family business. In 2008, we set up Garg Seamless Pvt. Ltd. in Mundka, Delhi. From a humble beginning of retail stainless steel scrap dealings of 2 tonnes/month, we upped our sales to 200-250 tonnes/month. From the day we began this journey, Jindal Stainless has been our only customer.. In 2010, we were dealing in good scrap volumes in the 200 series stainless steel, amounting to 800-1,000 tonnes per month. This was also the year when we kicked-off direct dealings with Jindal Stainless and it proved to be a game changer for us. Having established commitment for a trustworthy supply chain, we expanded to the 300 series market during this time. As of today, our monthly volume supply to Jindal Stainless is to the tune of 2,000-2,500 tonnes.
Are there any roadblocks in your line of business? What are your future plans?
The supply chain is often subject to ups and downs due to cyclicality in the market. However, this is usually a brief phase when the markets become volatile. I personally believe that whenever there is a hike in prices, it is governed by supply-demand dynamics along with the current economic situation. As a business philosophy, I believe, ultimately your supply is only as strong as your product quality and your commitment for timely delivery, which is prime determinant of your brand reputation in the market. While dealing with Jindal Stainless, we continue to unravel new business opportunities and contribute to the growth of Indian stainless steel industry. Even during early lockdown months due to COVID-19 in India, several retail customers faced problems. However, Jindal Stainless aided us and lent moral support that eventually kept us afloat in the troubled time.
Tell us about your association with Jindal Stainless?
As mentioned before, Jindal Stainless is our only customer. I have a special bond with Company as I have interacted with all three generations of the leadership, starting with Bauji (Shri OP Jindal), to Mr Ratan Jindal, and now Mr Abhyuday. I appreciate the technological advancements introduced by Mr Abhyuday and also the promptness at Company’s end in terms of communication. We take pride in the fact that we are the authorised and regular supplier to India’s largest stainless steel maker. The Company has helped us throughout our business by bringing in growth opportunities and also by prioritising domestic suppliers. Initially, before associating with Jindal Stainless, our business had an annual turnover of ~INR 10 crore in 2010, however, today we are targeting ~INR 125 crore turnover by next year.
What is your message to all young managers out there?
I have learnt that commitment and communication are the two basic principles for conducting my business. I believe that both these principles are integral to achieving success in any aspect of your life, from your personal endeavours to your professional achievements.